Thousands of former Toys R Us workers will receive severance payments from a new $20 million fund. The move is considered rare among private-equity-backed companies that file for bankruptcy. Even so, the amount pledged is well below the $75 million a workers rights group says those who lost their jobs are owed. Bain Capital and […]
Finance
Latest News
Government Questions Unfair Student Loan Practices…
One of the nation’s largest student loan servicing companies may have driven tens of thousands of borrowers struggling with their debts into higher-cost repayment plans. That’s the finding of a Department of Education audit of practices at Navient Corp., the nation’s third-largest student loan servicing company. The conclusions of the 2017 audit, which until now […]
Realtors Urge Fed to Stop Hiking as Existing Home Sales Slump Most Since 2014…
Despite a modestly better than expected 1.4% MoM rise (after September’s 3.4% slump), existing home sales slumped 5.1% year-over-year – the biggest drop since 2014. Regionally, The West is suffering the most:Existing-home sales in the Northeast increased 1.5% to an annual rate of 690,000, 6.8% below a year ago. The median price in the Northeast […]
Trump Blasts Fed, Says Interest Rates Are Too High…
President Donald Trump Federal Reserve on Tuesday described the Federal Reserve as a “problem” and said its interest rate target was too high. “I’d like to see the Fed with a lower interest rate. I think the rate’s too high. I think we have much more of a Fed problem than we have a problem […]
Dow Finishes Down 550 Points as Stocks Erase 2018 Gains…
U.S. stocks closed sharply lower Tuesday, extending a pre-Thanksgiving rout that has been fueled mostly by a selling in shares of technology and internet-related companies, but has now spread to ensnare the broader market. Sharp declines in Target and Lowe’s after disappointing earnings also contributed to the tone. U.S. financial markets will be closed Thursday […]
Bloomberg Gives Johns Hopkins a Record $1.8 Billion for Student Financial Aid…
Former New York mayor Michael R. Bloomberg announced Sunday he is giving a record $1.8 billion to Johns Hopkins University to support student financial aid at his alma mater and make its admissions process “forever need-blind.” The gift, believed to be the largest private donation in modern times to higher education, is a landmark in a […]
Import Prices: Still No Signs of Tariffs Taxing Consumers…
The price of goods imported from China fell in the first month of the Trump administration’s expanded tariffs, government data showed Thursday. The Trump administration imposed tariffs on around $200 billion of goods imported from China at the end of September. Previously, the China tariffs had applied to $50 billion of goods, mostly technological imports. […]
Related
Oil Slips As Russia Mulls Production Cuts…
Russia’s energy ministry is discussing potential oil production cuts with local producers and will continue talks to come up with a position by the OPEC/non-OPEC meeting in early December, Energy Minister Alexander Novak said on Monday. We discussed it and we will continue to discuss it, Russian news agency Prime quoted Novak as telling reporters […]
Whistleblower Implicates Deutsche Bank in $150 Billion Money Laundering Scandal…
Just when Deutsche Bank probably thought the worst of its legal troubles (over the Libor scandal, sales of shoddy mortgage-backed securities, FX and precious metal rigging which collective resulted in tens of billions in legal fines) were behind it, the struggling German lender is being drawn deeper into the biggest money laundering scandal in European […]
Related
APEC Fails to Reach Consensus As U.S.-China Divide Deepens…
Asia-Pacific leaders failed to agree on a communique at a summit in Papua New Guinea on Sunday for the first time in their history as deep divisions between the United States and China over trade and investment stymied cooperation. Competition between the United States and China over the Pacific was also thrown into focus with […]
Federal Energy Regulator Prompts Utilities to Pass Tax Savings on to Customers…
The nation’s grid regulator moved Thursday to ensure that President Trump’s 2017 tax cuts reduce customer utility bills. The Federal Energy Regulatory Commission issued a proposed rulemaking that would require all publicly-owned utility companies that own transmission lines “to revise” their rates to account for the benefits they received under the tax reform package. The […]
Yes, We Are in Another Tech Bubble…
Technology has touched our lives in so many ways, and especially so for investors. Not only has technology provided ever-better tools by which to research and monitor investments, but tech stocks have also provided outsized opportunities to grow portfolios. It’s no wonder that so many investors develop a strong affinity for tech. Just as glorious […]
5 U.S. Tech Giants Just Spent $116 Billion of Repatriated Cash on Buybacks…
While many analysts wanted to attribute the divergence in US stocks during the first three months of this year to strong economic data, the fiscal stimulus unleashed by Trump or stronger-than-expected corporate earnings, as analysts at Nomura (including cross-asset strategist Charlie McElligot) and Deutsche Bank have argued, when it comes to factors undergirding the market […]
Feds Collect Record Taxes in October; Still Run $100B Deficit…
The federal government collected record total tax revenues of $252,692,000,000 in October, the first month of fiscal 2019, according to the Monthly Treasury Statement released Tuesday. Despite the record tax collections, the government still ran a deficit of $100,491,000,000 for the month—because it spent $353,183,000,000. This October’s record $252,692,000,000 in total tax collections was $11,414,590,000 […]
Did ‘Chairwoman’ Maxine Waters’ Warning Cause Stock Sell-Off
Neil Cavuto and his financial panel on Wednesday discussed whether a curt warning from incoming House Financial Services Committee Chairwoman Maxine Waters caused the New York Stock Exchange to start a selloff. The NYSE index finished the trading day down about 206 points — or 8/10 of a percentage point. The Dow Jones Industrial Average […]
Visualizing China’s Belt and Road Investment Map…
The fifth anniversary of China’s Belt and Road Initiative (BRI) was recently marked in Beijing. This 900 billion U.S. dollar transcontinental development project was launched in the autumn of 2013 when president Xi Jinping proposed the building of the Silk Road Economic Belt and the 21st Century Maritime Silk Road – the two main segments […]
Apple, Goldman Sachs Push Dow Down 600 Points…
The Dow Jones Industrial Average slid 602 points or 2.3 percent in a volatile and light trading session due to the Veterans Day holiday. The Nasdaq Composite fell over 206 points or nearly 3 percent, while the S&P 500 lost 54.79 points or nearly 2 percent. Ten of the sectors in the S&P 500 fell […]
SWIFT Cuts Off Iran Central Bank as Tehran Sells 700,000 Barrels to Anonymous Direct Buyers…
As reported last week, shortly after SWIFT caved to US pressure and defied the EU announcing it would cut off a selection of Iranian banks, on Monday, the US Treasury said the Iranian Central Bank has been officially cut off the SWIFT financial messaging system. The disconnection, which comes at a time when Iran’s economy […]
Dow Finishes Nearly 550 Points Higher As Stocks Soar After Midterms…
U.S. stocks ended sharply higher Wednesday, following closely watched midterm elections that saw Democrats take control of the House, delivering a divided Congress, and news that Attorney General Jeff Sessions was resigning at the request of the president…
October Payrolls Surge Adding 250,000 Jobs…
U.S. employers added a better-than-expected 250,000 jobs in October, soaring past expectations for an increase of 190,000 jobs in the last jobs report before the midterm elections and on the heels of an incredibly volatile month for the stock markets. The unemployment rate remained at 3.7 percent, the lowest rate in nearly 50 years, while […]